How is mentorship important to Angel Investment?
Having an experienced angel act as an advocate or mentor through the investment process is not all that common. There is a lot of value to working with an angel that knows all aspects of the investment process really well. Normally an entrepreneur applying for funding goes through a multi-step process that includes building a pitch deck, going through pre-screening, screening, and then a full investor meeting – pitching their company or idea each time. If the Angel group has strong interest, then the entrepreneur needs to work with the Angel group on a term sheet and the due diligence process. An Angel mentor who knows each step of the process well can help entrepreneurs have a much better chance of getting funded because Angels are looking for different things in each step of the process.
If you plan on seeking Angel investment, it is important to reach out to an Angel that knows the process well for guidance and mentorship and to be an advocate for you within their group.